A bill to provide for international negotiations to seek increased equity in the sharing by foreign countries of the costs of maintaining military forces of the United States in such countries.

Directs the President to consult with foreign nations to seek to achieve an agreement on proportionate defense cost-sharing with each foreign nation with which the United States has a bilateral or multilateral defense agreement. Requires such agreement to include the equitable sharing of the costs to the United States of maintaining military personnel or equipment in that nation or otherwise providing for the defense of that nation. Requires the Secretary of Defense to maintain an accounting for defense cost-sharing under each agreement entered into, showing cost-sharing contributions agreed to, paid, or contributed to commonly-funded multilateral programs, as well as contributions made by the United States and other nations.

Requires the President to report semiannually concerning efforts and progress in carrying out the provisions of this Act. Requires the Secretary to make semiannual reports containing the accounting of defense cost-sharing contributions.